{"id":"F2025L01347","name":"ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2025/690","slug":"asic-supervisory-cost-recovery-levy-annual-determination-instrument-2025-690","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":443032,"registerId":"F2025L01347-fast-fetch-1775957943810","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2025/690","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: ASIC Template (Principal Legislative Instruments - Jan 2019)\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2025/690\n\nI, Lisa Rees, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 30 October 2025\n\n \n\n \n\n \n\nLisa Rees  \n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc56528623)\n\n[1 Name of legislative instrument](#_Toc56528624)\n\n[2 Commencement and date of effect](#_Toc56528625)\n\n[3 Authority](#_Toc56528626)\n\n[4 Definitions](#_Toc56528627)\n\n[Part 2—Determination](#_Toc56528628)\n\n[5 Applicable financial year](#_Toc56528629)\n\n[6 Sub-sector population](#_Toc56528630)\n\n[7 Sub-sector metrics—basic levy component and graduated levy component](#_Toc56528631)\n\n \n\n \n\n \n\n \n\n \n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2025/690.\n\n2 Commencement and date of effect\n\n(1) This instrument commences on the day after it is registered on the Federal Register of Legislation.\n\n Note: The register may be accessed at www.legislation.gov.au.\n\n(2) This instrument takes effect as follows:\n\n(a) if subsection 11(3) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the instrument takes effect on the day specified in paragraph 11(3)(a) of that Act;\n\n(b) if subsection 11(4) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the remaining provisions of the instrument take effect on the day specified in paragraph 11(4)(a) of that Act.\n\nNote 1: Section 11 of the ASIC Supervisory Cost Recovery Levy Act 2017 contains special provisions dealing with the disallowance and taking effect of instruments of this kind.\n\nNote 2: Subsection 9(9) of the ASIC Supervisory Cost Recovery Levy Act 2017 has the effect that the instrument can have retrospective application before the day it is registered on the Federal Register of Legislation. The register may be accessed at www.legislation.gov.au.\n\n3 Authority\n\nThis instrument is made under section 73 of the ASIC Supervisory Cost Recovery Levy Regulations 2017.\n\n4 Definitions\n\nIn this instrument:\n\n(a) Regulations means the ASIC Supervisory Cost Recovery Levy Regulations 2017; and\n\n(b) unless the contrary intention appears, an expression that:\n\n(i) is used, but not defined, in this instrument; and\n\n(ii) is defined in the Regulations;\n\nhas the same meaning in this instrument as in the Regulations.\n\nPart 2—Determination\n\n5 Applicable financial year\n\nThis determination applies to the 2024-25 financial year.\n\n6 Sub-sector population\n\nFor the purposes of the definition of sub-sector population in subsection 4(1) of the Regulations, the sub-sector population for the sub-sector specified in column 2 of the table for the financial year is specified in column 3 of the table.  \n\n| Column 1 | Column 2 | Column 3 |\n| --- | --- | --- |\n| Item | Sub-sectors | Sub-sector population |\n| 1 | Auditors of disclosing entities | 122 |\n| 2 | Australian derivative trade repository operators | 2 |\n| 2A | Benchmark administrators | 2 |\n| 2B | Claims handling and settling services providers | 345 |\n| 3 | Corporate advisors | 284 |\n| 4 | Credit intermediaries | 4,097 |\n| 5 | Credit providers | 987 |\n| 6 | Credit rating agencies | 6 |\n| 7 | Custodians | 1,487 |\n| 8 | Deposit product providers | 176 |\n| 8A | Established specialised market operators | 23 |\n| 9 | Exempt CS facility operators | 2 |\n| 10 | Exempt market operators | 2 |\n| 11 | Insurance product distributors | 3,671 |\n| 12 | Insurance product providers | 98 |\n| 13 | Large futures exchange operators | 1 |\n| 14 | Large futures exchange participants | 29 |\n| 15 | Large proprietary companies | 11,771 |\n| 16 | Large securities exchange operators | 2 |\n| 17 | Large securities exchange participants | 57 |\n| 18 | Licensees that provide only general advice to retail or wholesale clients | 1,103 |\n| 19 | Licensees that provide personal advice on relevant financial products to retail clients | 2,584 |\n| 20 | Licensees that provide personal advice to only wholesale clients | 2,171 |\n| 21 | Licensees that provide personal advice to retail clients on only products that are not relevant financial products | 551 |\n| 22 | Listed corporations | 2,014 |\n| 23 | Managed discretionary account providers | 250 |\n| 24 | Margin lenders | 25 |\n| 24A | New specialised market operators | 3 |\n| 25 | Operators of investor directed portfolio services | 76 |\n| 25A | Operators of notified foreign passport funds and regulated former notified funds | 0 |\n| 26 | Overseas market operators | 32 |\n| 27 | Over-the-counter traders | 56 |\n| 28 | Payment product providers | 659 |\n| 29 | Public companies (unlisted) | 14,665 |\n| 30 | Registered company auditors | 3,059 |\n| 31 | Registered liquidators | 670 |\n| 32 | Responsible entities | 411 |\n| 33 | Retail over-the-counter derivatives issuers | 75 |\n| 34 | Risk management product providers | 91 |\n| 35 | Securities dealers | 1,253 |\n| 36 | Small and medium amount credit providers | 179 |\n| 38 | Small futures exchange operators | 1 |\n| 39 | Small securities exchange operators | 2 |\n| 40 | Small securities exchange operators with self-listing function only | 1 |\n| 41 | Superannuation trustees | 67 |\n| 42 | Tier 1 clearing and settlement facility operators | 4 |\n| 43 | Tier 2 clearing and settlement facility operators | 1 |\n| 44 | Tier 3 clearing and settlement facility operators | 2 |\n| 45 | Tier 4 clearing and settlement facility operators | 1 |\n| 46 | Traditional trustee company service providers | 11 |\n| 47 | Wholesale electricity dealers | 49 |\n| 48 | Wholesale trustees | 2,008 |\n\n\n7 Sub-sector metrics—basic levy component and graduated levy component\n\nFor the purposes of the definitions of:\n\n(a) basic levy component in subsection 9(1) of the Regulations; and\n\n(b) graduated levy component in subsection 10(1) of the Regulations;\n\nthe applicable sub-sector metric for the sub-sector specified in column 2 of the table for the financial year is specified in column 3 of the table.    \n\n- Column 1 Column 2 Column 3\n- Item Sub-sectors Sub-sector metric\n- Basic levy component(as applicable) Graduated levy component(as applicable)\n- 1 Auditors of disclosing entities 703,335,662\n- 2 Australian derivative trade repository operators 730\n- 2A Benchmark administrators 730\n- 2B Claims handling and settling services providers 154,407,357\n- 3 Corporate advisors 3,769,592,356\n- 4 Credit intermediaries 47,062\n- 5 Credit providers 834,295,598,924\n- 6 Credit rating agencies 1,095\n- 7 Custodians 1,487\n- 8 Deposit product providers 3,341,332,529,545\n- 8A Established specialised market operators 8,395\n- 9 Exempt CS facility operators 730\n- 10 Exempt market operators 730\n- 11 Insurance product distributors 3,671\n- 12 Insurance product providers 67,629,782,990\n- 13 Large futures exchange operators 365\n- 14 Large futures exchange participants 263,593,176 (messages)426,443,603 (lots)\n- 15 Large proprietary companies 11,771\n- 16 Large securities exchange operators 2,218,049,789,884\n- 17 Large securities exchange participants 6,592,680,103 (messages)1,221,829,764 (transactions)\n- 18 Licensees that provide only general advice to retail or wholesale clients 1,103\n- 19 Licensees that provide personal advice on relevant financial products to retail clients 15,041\n- 20 Licensees that provide personal advice to only wholesale clients 2,171\n- 21 Licensees that provide personal advice to retail clients on only products that are not relevant financial products 196,561\n- 22 Listed corporations 1,687,119,395,575\n- 23 Managed discretionary account providers 88,686\n- 24 Margin lenders 8,859\n- 24A New specialised market operators 1,000\n- 25 Operators of investor directed portfolio services 1,007,045,653\n- 25A Operators of notified foreign passport funds and regulated former notified funds 0\n- 26 Overseas market operators 11,440\n- 27 Over-the-counter traders 1,588\n- 28 Payment product providers 4,911,446,317\n- 29 Public companies (unlisted) 14,665\n- 30 Registered company auditors 3,059\n- 31 Registered liquidators 77,367\n- 32 Responsible entities 1,818,960,960,800\n- 33 Retail over-the-counter derivatives issuers 26,507\n- 34 Risk management product providers 31,776\n- 35 Securities dealers 140,396,918,971\n- 36 Small and medium amount credit providers 1,259,605,448\n- 38 Small futures exchange operators 365\n- 39 Small securities exchange operators 730\n- 40 Small securities exchange operators with self-listing function only 365\n- 41 Superannuation trustees 2,777,051,381,734\n- 42 Tier 1 clearing and settlement facility operators 1,460\n- 43 Tier 2 clearing and settlement facility operators 365\n- 44 Tier 3 clearing and settlement facility operators 369\n- 45 Tier 4 clearing and settlement facility operators 365\n- 46 Traditional trustee company service providers 4,015\n- 47 Wholesale electricity dealers 49\n- 48 Wholesale trustees 1,015,206,134,337\n\n\n \n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by the parent legislation: setting annual fee parameters for ASIC cost recovery. It has not expanded beyond this narrow administrative purpose."},"complexity_factors":["Short, single-purpose instrument (7 sections total)","Only 4 defined terms, all referencing external legislation","Two simple tables containing numerical data — no conditional logic or nested provisions","No substantive legal rules — purely administrative/data-setting function","Heavy reliance on external definitions (ASIC Supervisory Cost Recovery Levy Regulations 2017 and Act 2017)","Retrospective effect provisions are standard boilerplate referencing parent Act"],"plain_english_summary":"This instrument sets the specific fees financial businesses must pay ASIC for 2024–25, translating annual cost recovery into numeric charges. It covers a wide range of banks, insurers, market operators, advisers, fund managers and other regulated entities by publishing each sub‑sector’s population and fee metrics.\n\nIt matters because those numbers determine industry compliance costs (often passed to consumers) and fund ASIC’s supervision of markets and investor protection."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"This instrument does not expand or narrow which entities are covered. It specifies the numerical inputs — sub‑sector populations and applicable metrics — used to calculate levies for the 2024–25 year under the existing Regulations (ss5–7). Definitions remain those in the Regulations (s4(b)); timing provisions (s2) affect when the numbers take effect but do not change the regulated universe."},"complexity_factors":["Large, detailed tables of sub‑sector populations (s6) and numeric metrics (s7) — many line items to apply correctly.","Instrument is a numerical determination that depends on definitions and calculation rules in the Regulations (s4(b)) and on the basic and graduated levy definitions referenced in s7 (subsections 9(1) and 10(1) of the Regulations).","Mixed units and sector‑specific metrics (e.g. monetary values, counts, messages/lots/transactions) in s7 create operational complexity for correct measurement and reporting.","Commencement timing and possible retrospective effect (s2(1)–(2); notes referencing ss9(9) and 11 of the Act) mean administrators and payers must check effective dates for liability.","Authority and delegation: instrument made under s73 of the Regulations by an ASIC delegate (s3); administrative discretion limited to numeric determinations but implementation requires cross‑checking with statutory rules.","Interplay between basic levy component and graduated levy component requires aggregation across components per the Regulations, increasing calculation steps for levy invoices."],"plain_english_summary":"This instrument, made by an ASIC delegate, sets the 2024–25 sub‑sector population counts and sector‑specific metrics that are used to calculate ASIC’s supervisory cost recovery levies. It identifies which types of financial firms pay and the numeric bases (basic and graduated components) that determine each sector’s share. Entities listed in the tables (auditors, licensees, exchanges, trustees, insurers, lenders, etc.) will have levy amounts calculated from these metrics under the Regulations; timing and retrospective-effect rules are in ss2–5."}},"importantCases":[],"_links":{"self":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2025-690","history":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2025-690/history","analysis":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2025-690/analysis","conflicts":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2025-690/conflicts","importantCases":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2025-690/important-cases","documents":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2025-690/documents"}}